Bitcoin, the world’s largest cryptocurrency by market capitalization, fell below $95,000 on Friday, continuing a four-day decline that has caught the attention of investors across both crypto and equity markets.
The digital asset was trading around $94,896, down approximately 3.5% for the day, and has now shed a substantial portion of its recent gains. Earlier in the week, Bitcoin briefly reclaimed roughly $107,000 before sliding sharply lower.
This sell-off comes against a backdrop of heavy losses in artificial intelligence (AI) and growth-oriented technology stocks. Many of these same investor flows once supported risk-assets such as Bitcoin.
With the Nasdaq-100 futures down more than 1% in early trade, major names including Meta, Alphabet, Intel, Nvidia and Tesla all lost between 1%-5% in pre-market sessions. The linkage between Bitcoin and tech equities has grown more apparent as institutional participation in crypto deepens.
Crypto-equity Correlation Intensifies
Crypto-linked equities were among the hardest hit during this move. Shares of Strategy Inc. (formerly MicroStrategy) fell around 6%, while digital-asset platforms such as Coinbase Global, Inc. and Gemini Space Station dropped roughly 5%.
Mining and infrastructure stocks, including BitMine Immersion Technologies, also traded down by about 5%. The decline in both crypto and associated equities suggests a tilt toward risk-off sentiment rather than isolated crypto-specific issues.
Recent research indicates Bitcoin’s correlation with major equity indices has surged – reaching correlation levels above 0.80 in some periods – signifying that Bitcoin is increasingly behaving like a high-beta tech asset rather than an uncorrelated store of value. This dynamic means shocks to technology and growth sectors are now more likely to translate directly into crypto market stress.
Liquidity Pressures and Macro Triggers
Beyond the tech sell-off, several macro-level factors are exerting pressure. Analysts at banks such as Citi point to declining bank reserves and tightening liquidity as contributing to the Bitcoin retreat.
The flagging of over $300 billion in crypto market value erased in recent weeks underscores how thin crypto’s support may be when risk sentiment turns. One firm called the current phase a “sell-now, ask-questions-later” moment, detecting weak inflows and rising downside protection activity.
On-chain data reinforce this view: large volumes of Bitcoin – over 235,000 BTC worth approximately $24 billion – were moved at a loss in a 24-hour span, suggesting sellers are forcing capitulations. With fewer new buyers stepping up, many market watchers view this as a liquidity-driven stall rather than a fundamental breakdown in Bitcoin’s long-term thesis.
Technical View & Near-Term Implications
From a technical perspective, Bitcoin’s slip below the key support zone around $100,000 is significant. It has triggered warnings that the market may now enter a corrective phase rather than simply a dip. Historically, when Bitcoin breaches major psychological thresholds without robust buy-the-dip flows, the prospect of a deeper draw-down grows.
However, long-term adoption factors remain intact. Institutional entry is still unfolding, and many allocators continue to regard Bitcoin as digital gold and a hedge against inflation. The current pull-back may therefore represent a reset rather than a reversal of the bullish case—though the timing and magnitude of the recovery remain uncertain.